Abu Dhabi – Mubasher: Aldar Properties on Wednesday announced that it sold out its latest development, Lea, on the northern shores of Yas Island during Cityscape Abu Dhabi, bringing in AED 400 million ($108.9 million) in sales, according to a statement.

Earlier in April, Abu Dhabi's largest property developer revealed the launch of the new waterfront development, offering land plots starting at AED 990,000 and sizes ranging from 405 square metres to 1,800 square metres.

In addition, Alreeman project launched by Aldar Properties also generated AED 1.6 billion in sales as previously revealed.   

“Generating over AED 2 billion from [Aldar Properties’] two most recent developments – Al Reeman and Lea, shows how market sentiment is moving in a positive direction,” CEO of Aldar Properties, Talal Al Dhiyebi, said.

“This is also [Aldar Properties’] first development launch since [it] opened [its] inaugural experience centre in Dubai earlier this year, and [the company is] seeing how this new demand channel from further afield is being reflected in transactions,” executive director – commercial at Aldar Properties, Maan Al Awlaqi, noted.